Tag Archives | Ray White

2 apartments sell at Ray White auction

2 of the 5 units auctioned at Ray White City Apartments today were sold under the hammer, one in the Grand Chancellor hotel building and the other in Eden Terrace.

CBD

Learning Quarter

Forte, 37 Symonds St, unit 1302:
Features: 48m² corner unit, 2 bedrooms, balcony
Outgoings: rates $1383/year including gst; body corp levy $4149/year, special levy $703 to fireproof riser shafts
Income assessment: $500/week fixed until 30 April, appraisal $530-560/week furnished
Outcome: passed in after bid at $300,000, vendor bid at $400,000
Agents: May Ma & Mark Li

Uptown

Q Central, 36 Liverpool St, unit 3A:
Features: leasehold, 59m², 2 bedrooms
Outgoings: rates $1188/year including gst; body corp levy $3534/year, ground rent $7173/year, next ground lease review December 2018
Income assessment: $1894/month on Housing NZ lease expiring in March 2019
Outcome: passed in on sole bid from vendor of $100,000
Agents: May Ma & Mark Li

Victoria Quarter

Grand Chancellor, 1 Hobson St, unit 803:
Features: 57m², one bedroom, with a new title excluding the parking space (and reducing rates & body corp levy accordingly)
Outgoings: rates $1812/year including gst; body corp levy $4763/year
Outcome: sold for $612,000
Agent: Josh Muriwai

Waterfront

Sebel Suites, 85 Customs St, unit 610:
Features: leasehold, 57m², one bedroom, study, balcony overlooking Viaduct Basin
Outgoings: rates $1913/year including gst; body corp opex levy $8852/year, ground lease $6806/year
Income assessment: $500/week current, appraisal $620-680/week furnished
Outcome: passed in at $201,000
Agents: Damian Piggin & Daniel Horrobin

Isthmus west

Eden Terrace

10 Ruru St, unit 9:
Features: 114m², 3 levels, 2 bedrooms, deck, tandem internal-access garage, storage
Outgoings: rates $1596/year including gst; body corp levy $2913/year
Income assessment: appraisal $650-700/week
Outcome: sold for $700,000
Agent: Krister Samuel

Attribution: Auction.

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Docks unit with parking sells

A leasehold Docks apartment (pictured) plus 4 parking spaces sold at Ray White City Apartments’ auction today, while an Eden Terrace unit attracted no bid.

CBD

Quay Park

The Docks, 4 Dockside Lane, unit 138:
Features: terminating leasehold (in 2161) – next review November 2018, 45m², one bedroom, 4 parking spaces (2 tandems); discovery underway for remediation works, now estimated at $8.5 million
Outgoings: rates $1604/year including gst; body corp levy $9687/year including $3722 ground rent
Income assessment: current $490/week for unit + one tandem space, rented long-term
Outcome: sold for $150,000
Agents: Dominic Worthington & Ady Huang

Isthmus west

Eden Terrace

Newton Rise, 121 Newton Rd, unit 4A:
Features: 93m², 2 bedrooms, parking space
Outcome: no bid
Agents: Susan Woods-Markwick & Clarissa Searle

Attribution: Auction.

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Leaks & slow market count against apartment sale

An apartment in the Westmount – one of the earlier ventures into city fringe intensification in the mid-1990s, now with an expensive remediation programme – was passed in at Ray White City Apartments’ auction today after 2 low bids, a vendor bid and a $1000 raise on that.

Auctioneer Ted Ingram wanted $50,000 raises to get near a saleable price and lifted the bidding to $200,000 with a vendor bid, before closing on the $1000 raise.

Passing the unit in with no further offers in sight, he commented: “These people want to sell their property, they don’t want to give it away.”

But, like so many who have found they own a leaky building, these owners face a hefty levy, over $263,000 levied a week ago, for their share of an $11 million remediation bill.

They’re also in a market which Chinese investors have almost completely abandoned and where banks are tightening their credit criteria, including increasing the minimum size of apartment they’re likely to lend on.

CBD

Uptown

Westmount, 23 Upper Queen St, unit 4F:
Features: 89m², 2 bedrooms, 2 bathrooms, parking space
Outgoings: rates $1474/year including gst; body corp levy $6396/year
Income assessment: $550/week current, appraisal $630-680/week furnished
Outcome: passed in at $201,000
Agents: Damian Piggin & Daniel Horrobin

Attribution: Auction.

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Nautilus unit attracts no bid

Ray White City Apartments’ auction was over before it began this week, with no bid on the one property on offer, an apartment in the Nautilus tower at Orewa.

Owners won a $24 million claim against Auckland Council in 2015 for damage caused by leaks, and remediation is underway. This apartment will have to be vacated for at least 6 months from the end of September or early October for remediation in or near it to be done.

North-east

Orewa

Nautilus, 9-11 Tamariki Avenue, unit 1112:
Features: 75m², 2 bedrooms, balcony, tandem parking, storage; the $24 million remediation of the building is underway, and this unit must be vacated for at least 6 months from the end of September
Outgoings: rates $1503/year including gst; body corp levy $3829/year
Outcome: no bid
Agents: James Mairs & Gillian Gibson

Attribution: Auction documents.

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4 out of 5 apartments sell at auction

All but one of the 5 apartments auctioned at Ray White City Apartments yesterday were sold under the hammer, or shortly after. Pictured are the Embassy Apartments on Wakefield St.

CBD

Learning Quarter

Forte, 37 Symonds St, unit 909:
Features: 46m², 2-bedroom corner unit, deck
Outgoings: rates $1370/year including gst; body corp levy $4494/year
Income assessment: $540/week current
Outcome: passed in at $481,000
Agents: Aileen Wu

Embassy, 18 Wakefield St, unit 6M:</strong
Features: 109m², 2 bedrooms, balcony, parking space
Outgoings: rates $1825/year including gst; body corp levy $4688/year
Outcome: sold for $792,000
Agents: Daniel Chen & Amy Tsai

The Quadrant, 10 Waterloo Quadrant, unit 1910:
Features: 32m², one bedroom, balcony, out of the hotel lease
Outgoings: rates $1237/year including gst; body corp levy $3930/year
Income assessment: $430/week, fixed until March
Outcome: sold for $388,000 shortly after being passed in at $360,000
Agents: Lucia Gao

Isthmus west

St Marys Bay

Hargreaves, 23 Hargreaves St, unit 201:
Features: 57m², one bedroom, study, parking space, remedial work underway
Outgoings: rates $1116/year including gst; body corp levy $2516/year
Outcome: sold for $121,000
Agent: Victor Liu

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 1501:
Features: 48m², one bedroom, under hotel management
Outgoings: rates $4154/year including gst; body corp levy $3247/year
Outcome: sold for $271,000 + gst
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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2 apartments sell at Ray White auction

2 apartments in the Cintra & Altitude buildings were sold and 2 passed in at Ray White City Apartments’ auction today.

CBD

Learning Quarter

The Whitaker, 2 Whitaker Place, unit 8H:
Features: 29m² studio
Outgoings: rates $1071/year including gst; body corp levy $3817/year
Income assessment: $350/week, fixed until February; appraisal $380-400/week furnished
Outcome: passed in at $200,000
Agents: Damian Piggin & Daniel Horrobin

Crown on Cintra, 3 Whitaker Place, unit 11E:
Features: 30m² fully furnished studio, under hotel management; remediation project pending
Outgoings: rates $929/year including gst; body corp levy $3409/year
Income assessment: $350/week current
Outcome: sold for $198,000
Agents: James Mairs & Lucia Gao

Quay Park

Waldorf Scene 2, 18 Beach Rd, unit 709:
Features: leasehold, 58m², one bedroom, balcony, secure parking space
Outgoings: rates $1461/year including gst; body corp levy $4086/year, ground rent $5564/year
Income assessment: vacant; appraisal $600/week
Outcome: passed in at $125,000
Agents: James Mairs

Victoria Quarter

Altitude, 34 Kingston St, unit 3C:
Features: 40m², 2 bedrooms, balcony
Outgoings: rates $1084/year including gst; body corp levy $3633/year
Income assessment: $460/week, fixed until February; appraisal $460-480/week furnished
Outcome: sold for $337,000
Agents: Damian Piggin & Daniel Horrobin

Attribution: Auction.

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Interest withers at apartments auction

A Connaught apartment was sold at Ray White City Apartments’ auction yesterday, interest in another fell well short of vendor aspirations and there was just one bid for the final 3 properties on offer.

CBD

Learning Quarter

The Connaught, 14 Waterloo Quadrant, unit 7D:
Features: 48m², one bedroom, 13m² balcony
Outgoings: rates $1832/year including gst; body corp levy $4252/year
Income assessment: $530-580/week furnished
Outcome: sold for $547,000
Agents: Judi & Michelle Yurak

The Whitaker, 2 Whitaker Place, unit 5B:
Features: 33m² studio; according to the pre-contract disclosure statement, the building’s goods lift is out of order and the body corporate is assessing roof remediation
Outgoings: rates $1088/year including gst; body corp levy $4271/year
Income assessment: $320/week current, appraisal $380-400/week furnished
Outcome: passed in at $202,000
Agents: Adam Gurr

Lorne St

Lorne St Lofts, 4 Lorne St, unit D:
Features: 40m² studio
Outgoings: rates $1367/year including gst; body corp levy $7372/year
Income assessment: $430-460/week furnished
Outcome: no bid
Agents: Judi & Michelle Yurak

Quay Park

Scene 3, 30 Beach Rd, unit 714:
Features: leasehold, 62m², one bedroom, balcony, covered parking space
Outgoings: rates $1331/year including gst; body corp levy $2977/year, ground rent $6188/year, next review in 2018
Income assessment: $550/week current
Outcome: passed in at $100,000
Agents: Ann Bennett

Uptown

Bianco off Queen, 2 White St, unit 11G:
Features: 81m², 2 bedrooms, balconies facing east & west, secure parking space; the vendor has given no warranty on weathertightness or structural integrity and wants to sell without liability
Outgoings: rates $1608/year including gst; body corp levy $7124/year plus an additional $3800 levy
Income assessment: unit $680-700/week, parking $70-80/week
Outcome: no bid
Agents: May Ma & Mark Li

Attribution: Auction.

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After considerable haggling, third apartment sells at auction

3 of the 4 apartments auctioned at Ray White City Apartments today were sold under the hammer.

The third sale, of a unit in the Altitude on Kingston St (picture shows view from balcony), followed what auctioneer Ted Ingram said was a considerable drop in the “want price”, and considerable haggling between auctioneer & several bidders after Mr Ingram entered a vendor bid at $350,000.

But he was unable to perform the same magic for the last property on offer, a dual-key unit in the Bianco off Queen whose owner wanted to pass all liability for future remediation to the buyer.

A fifth unit, in the Sebel Suites at the Viaduct Basin, was withdrawn from the auction.

CBD

Learning Quarter

Celestion, 19 Anzac Avenue, unit 1103:
Features: 60m², 2 bedrooms, 16m² deck, no parking but available in area to rent at $75-100/week
Outgoings: rates $6879/year including gst; body corp levy $5670/year
Outcome: sold vacant for $527,000
Agent: Dominic Worthington

Uptown

Bianco off Queen, 8 White St, unit 9E:
Features: 84m², furnished dual-key apartment – 2-bedroom & studio, bathroom each part, parking space; the apartment was auctioned without a warranty for weathertightness or structural integrity, for which the buyer would take on liability
Outgoings: rates $1747/year including gst; body corp levy $9561/year
Income assessment: under hotel management, current rent $2800/month; appraisal: 2-bedroom $560-580/week furnished, studio $350-370/week furnished
Outcome: sole bid by vendor at $600,000, passed in
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Victoria Quarter

Hobson Heights, 208 Hobson St, unit 6D:
Features: 42m², corner 2 bedrooms, 10m² balcony
Outgoings: rates $1126/year including gst; body corp levy $4605/year
Income assessment: $400/week fixed until 30 September under management agreement, which can be terminated on 6 months’ notice
Outcome: sold for $350,000
Agents: Judi & Michelle Yurak

Altitude, 34 Kingston St, unit 18D:
Features: 40m², 2 bedrooms
Outgoings: rates $1214/year including gst; body corp levy $4920/year
Income assessment: $410/week, increase to $450/week set for 9 October, appraisal $460-490/week furnished
Outcome: sold for $360,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Waterfront

Sebel Suites, 85 Customs St West, unit 210:
Features: one bedroom, parking space
Outcome: withdrawn from auction
Agents: Damian Piggin & Daniel Horrobin

Attribution: Auction.

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All 3 apartments passed in at auction

All 3 apartments auctioned at Ray White City Apartments today were passed in. The bidding on all 3 was supported by vendor offers (erroneously called bids, though they’re really indicators to bidders of the level the vendor thinks they need to reach).

CBD

Learning Quarter

The Whitaker, 2 Whitaker Place, unit 3D:
Features: 41m², one bedroom, parking space
Outgoings: rates $1101/year including gst; body corp levy $5207/year
Income assessment: $430-460/week furnished
Outcome: passed in after an opening at $300,000 & vendor bid at $350,000; option to buy fully furnished or whiteware only
Agents: Mitch Agnew & Ryan Bridgman

Uptown

Queens Residences, 8 Airedale St, unit 606:
Features: 50m², 2 bedrooms, flexi-room, 5m² deck
Outgoings: rates $1709/year including gst; body corp levy $2311/year
Income assessment: $540/week current, terminating on 18 September
Outcome: passed in at $525,000
Agents: May Ma & Mark Li

Victoria Quarter

The Galleries, 23 Graham St, unit 7:
Features: 101m², 2 bedrooms, 2 bathrooms, 14m² balcony, tandem parking
Outgoings: rates $2240/year including gst; body corp levy $6772/year
Outcome: passed in after an opening bid of $850,000 & 2 vendor bids at $950,000 & $1 million
Agents: Damian Piggin & Daniel Horrobin

Attribution: Auction.

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2 leasehold units plus one in Metropolis sell at auction

2 leasehold apartments – one in the Docks and the other in the Sebel Auckland Viaduct Harbour – plus a unit in the Metropolis were sold at Ray White City Apartments’ auction yesterday, leaving 4 other units unsold.

2 units in the Spencer on Byron hotel in Takapuna were passed in, and a third was withdrawn before the auction started.

CBD

Albert St

Quay West, 8 Albert St, unit 2302:
Features: 74m², one bedroom
Outgoings: rates $1785/year including gst; body corp levy $8433/year
Income assessment: $650-700/week furnished
Outcome: passed in at $565,000
Agent: Ron Yang

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1902:
Features: 52m², corner one bedroom, storage locker, parking space
Outgoings: rates $1595/year including gst; body corp levy $7037/year
Income assessment: $620/week current
Outcome: sold for $616,000
Agent: Dominic Worthington

Quay Park

The Docks, 4 Dockside Lane, unit 224:
Features: leasehold, 30m², one bedroom, remediation of building underway
Outgoings: rates $1037/year including gst; body corp levy $4359/year including ground rent of $1675/year; terminating leasehold from 2011 for 150 years, ground rent reviewed every 7 years, next review November 2018
Income assessment: $390/week current
Outcome: sold for $121,000
Agent: Dominic Worthington

Uptown

Oxford, 13-17 Mount St, unit 5K:
Features: 54m², 2 bedrooms, parking space
Outgoings: rates $1278/year including gst for unit, $1262/year for parking; body corp levy for unit $3624/year, parking $626/year
Income assessment: $650-700/week furnished
Outcome: passed in after the sole bid, from the vendor, at $600,000
Agents: May Ma & Mark Li

Waterfront

Sebel, 85 Customs St West, unit (door) 615:
Features: leasehold, 57m², one bedroom, study area, 7m² balcony
Outgoings: rates $/year including gst; body corp levy $18,038/year, including $7840/year ground rent
Outcome: sold for $300,000
Agents: Judi & Michelle Yurak

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 501:
Features: 59m², fully furnished one bedroom
Outgoings: rates $2190/year including gst; body corp levy $2982/year excluding gst
Income assessment: in hotel management pool
Outcome: passed in at $175,000 + gst
Agents: James Mairs & Gillian Gibson

Spencer on Byron, 9-17 Byron Avenue, unit 612:
Features: 48m², fully furnished one bedroom, parking space
Outgoings: rates $1195/year including gst; body corp levy $3140/year
Income assessment: $550/week, fixed until 30 September
Outcome: passed in at $275,000 + gst
Agents: James Mairs & Gillian Gibson

Spencer on Byron, 9-17 Byron Avenue, unit 712:
Features: 2 bedrooms
Outcome: withdrawn from auction
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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